Bright School Inc
- Assets
- $19.7m
- Revenue
- $8.3m
- Investments
- $7.2m
- Employees
- 114
- Location
- Chattanooga, TN
- Founding
- 03/1951
- Data as of
- 05/2021
- EIN
- 62-0476284
Organization Overview
Bright School Inc is located in Chattanooga, TN. The organization was established in 1951. According to its NTEE Classification (B21) the organization is classified as: Preschools, under the broad grouping of Education and related organizations. As of 05/2022, Bright School Inc employed 114 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bright School Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2021, Bright School Inc generated $8.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $5.6m during the year ending 05/2021. While expenses have increased by 2.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
BUILDING A FOUNDATION UPON WHICH STUDENTS BECOME WISE & COMPASSIONATE CITIZENS OF THE WORLD. THE SCHOOL FOSTERS THE INTELLECTUAL, ARTISTIC, PHYSICAL, AND MORAL GROWTH OF YOUNG BOYS & GIRLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE EXCELLENT EDUCATIONAL INSTRUCTION FOR ELEMENTARY AGE BOYS AND GIRLS
MAINTENANCE
SUMMER SCHOOL AND OTHER PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristin Watts Head Of School | Officer | 40 | $92,342 |
Betsey Kates Chair | OfficerTrustee | 2 | $0 |
Henry Aldridge Trustee | Trustee | 2 | $0 |
Mary Howard Ade Glover Trustee | Trustee | 2 | $0 |
Lindsay Hill Trustee | Trustee | 2 | $0 |
William Howard Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,745,685 |
| Investment income | $151,128 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $234,694 |
| Net Income from Fundraising Events | $46,023 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,317,558 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $369,394 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $170,677 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,644,780 |
| Pension plan accruals and contributions | $107,407 |
| Other employee benefits | $207,856 |
| Payroll taxes | $224,076 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,079 |
| Fees for services: Accounting | $25,492 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,608 |
| Advertising and promotion | $72,374 |
| Office expenses | $27,295 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $153,442 |
| Travel | $25,494 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $98 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $294,271 |
| Insurance | $73,781 |
| All other expenses | $0 |
| Total functional expenses | $5,563,810 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,333,621 |
| Savings and temporary cash investments | $4,506,204 |
| Pledges and grants receivable | $755,331 |
| Accounts receivable, net | $55,157 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $7,179,668 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,691,332 |
| Accounts payable and accrued expenses | $608,813 |
| Grants payable | $0 |
| Deferred revenue | $459,089 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,067,902 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $18,623,430 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Bright School Inc has recieved totaling $109,601.
| Awarding Organization | Amount |
|---|---|
Chattanooga Christian Community Foundation Chattanooga, TN PURPOSE: IN FURTHERANCE OF FOUNDATION'S PURPOSES | $51,600 |
Tucker Foundation Ooltewah, TN PURPOSE: GENERAL SUPPORT | $50,000 |
Community Foundation Of Greater Chattanooga Inc Chattanooga, TN PURPOSE: LAND, BUILDING, AND EQUIPMENT | $7,655 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $346 |
Endowment Analysis
| Beg. Balance | $7,251,141 |
| Earnings | -$172,480 |
| Net Contributions | $98,740 |
| Other Expense | $184,148 |
| Ending Balance | $6,993,253 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Langley School Inc Mclean, VA | $63,128,940 | $18,629,240 |
Economic Security Corporation Of Southwest Area Joplin, MO | $10,642,309 | $18,556,997 |
Wake County Smartstart Raleigh, NC | $3,415,796 | $19,658,248 |
Livingston Byrdstown Jamestown And Cookeville Development Corporation Cookeville, TN | $2,043,241 | $13,554,742 |
Hope Montessori Academy St Louis, MO | $759,290 | $12,407,556 |
Washington County Opportunities Inc Greenville, MS | $2,892,910 | $12,059,595 |
Columbia Academy School Columbia, TN | $17,513,853 | $13,288,512 |
Montessori School Of Raleigh Inc Raleigh, NC | $11,662,431 | $8,380,387 |
Forsyth School Inc Saint Louis, MO | $26,400,656 | $9,718,193 |
The New School Fayetteville, AR | $39,755,955 | $6,395,577 |
Smart Start Of Forsyth County Winston Salem, NC | $369,779 | $8,124,286 |
Caldwell Academy Greensboro, NC | $20,742,733 | $8,088,099 |